May 2023
The Inflation Reduction Act (IRA) of 2022 provides billions of dollars in direct funding, tax credits and other incentives aimed at the manufacturing sector. The goal of much of the bill’s funding is to encourage investments in “green” technologies like renewable energy and low- to zero-emission vehicles. Some of the IRA’s provisions provide direct benefits to manufacturers, while others may spur economic activity in ways that will benefit them indirectly. The following offers an overview of some of the parts of the IRA that could boost manufacturing over the next few years.
